Weak demand in Turkish welded pipe market

Demand in the local Turkish welded pipe market is still weak. In the current week, depreciation of the Turkish lira against the US dollar has accelerated after the beginning of the meetings regarding Turkey's transition to a presidential system. Accordingly, price inquiries in the local Turkish welded pipe market have declined, while buyers have maintained a cautious stance towards concluding new welded pipe deals, limiting their purchases in line with their needs.
 
On the other hand, Turkish welded pipe producers have kept their prices unchanged week on week since domestic prices of hot rolled coil - which is used as feedstock in steel pipe production - have also moved sideways. In the short term, no significant change is expected in domestic welded pipe quotations in Turkey.
 
Accordingly, Turkish producers' offers for ERW pipes and hollow sections with 2-4 mm wall thickness made from hot rolled coil (HRC) of S235 grade as per EN 10219 to the domestic market have remained stable during the past week at $495-525/mt ex-works.
 
Meanwhile, demand for Turkish producers' welded pipes in the export markets is still weak, Turkish producers' welded pipe export prices have moved sideways week on week at $495-535/mt FOB.